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US grants $1.5 billion to help make advanced chips in New York.
The Biden administration announced that GlobalFoundries — the only US-based company out of the five largest global chipmakers — has been awarded funding via the $52 billion CHIPS and Science Act.
GlobalFoundries will use the grant to upgrade its current facilities and help build a new fabrication plant at its headquarters in Malta, New York that will produce advanced chips that are typically made overseas.
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